EUROPEAN PARLIAMENT TO PUSH FOR DEPOSITORS WITH ABOVE 100,000 EUROS TO FACE BAIL-IN UNDER NEW RESOLUTION LAW – EU LAWMAKER!

Submitted by IWB, on March 26th, 2013

zerohedge&#8207;@zerohedge39 s
EUROPEAN PARLIAMENT TO PUSH FOR DEPOSITORS WITH ABOVE 100,000 EUROS TO FACE BAIL-IN UNDER NEW RESOLUTION LAW – EU LAWMAKER

zerohedge&#8207;@zerohedge1 min
Here we go again

Per Reuters, the European Parliament has just officially announced what ECB head DieselBOOM said did not say yesterday, which caused the market to roll over yesterday- that Cyprus is indeed a Eurozone wide template, and the Eurozone has full intentions of following the bail-in model throughout the rest of the PIIGS nations’ debt crises going forward!

EUROPEAN PARLIAMENT TO PUSH FOR DEPOSITORS WITH ABOVE 100,000 EUROS TO FACE BAIL-IN UNDER NEW BANK RESOLUTION LAW – EU LAWMAKER – RTRS

zerohedge&#8207;@zerohedge2 min
The European Parliament will demand that big savers take losses if their banks run into trouble, a senior lawmaker told Reuters,

zerohedge&#8207;@zerohedge2 min
FTW: Senior German lawmaker now denies what was just said, saying Cyprus not template… Just ignore the law that is about to be written

zerohedge&#8207;@zerohedge4 min
Likelihood tough treatment of big depositors will be written into new EU law, making large savers losses a feature of future crises – RTRS

I think big money will fly away to America and China

Is This The Diabolical “Master Plan” Behind Crushing Europe’s Depositors

Last week, when we commented on the absolutely idiotic Eurogroup proposal (now voted down and replaced by an equally idiotic “bank resolution” proposal which will see uninsured deposits virtually wiped out) to tax uninsured and insured deposits, we jokingly suggested that this may be merely the latest ploy by the legacy status quo to achieve one simple thing: force depositors across the continent (and soon, world) to pull their money out of a malevolent, hostile banking system and push that money into stocks, or simply to spend it. This would help finally defeat the biggest bogeyman of the centrally-planned reflation attempt in the past 4 years – the absolutely dismal velocity of money which drops every time the G-7 central planners inject liquidity into stocks.